Toshiba's Smart Electricity-Meter Reading

Until now, smart-grid technology's promise has looked more theoretical than real. But Toshiba's $2.3 billion deal to buy closely held Swiss energy-metering specialist Landis+Gyr is a welcome boost for Europe's energy-equipment sector.

Smart grids are based on a simple proposition: You can't manage what you can't measure. Measuring energy usage is important for power suppliers and customers at a time of increasing demands on the grid. Global power consumption is forecast to rise 60% by 2030. Much developed-world energy...